Under terms of the agreement, effective January 1, 2008, Ascend Therapeutics will be responsible for marketing and sales of Prochieve 4% in the US using its existing 100-person sales force that calls on a broad range of obstetricians and gynecologists (OB/GYNs). Ascend will purchase product from Columbia at a transfer price equal to 35% of its net selling price with minimum annual purchase obligations that increase over the life of the agreement.
Robert Mills, president and CEO of Columbia Laboratories, said: “We are pleased to announce this exclusive agreement with Ascend Therapeutics, a biopharmaceutical company with an established and growing franchise in women's health. Ascend Therapeutics represents the perfect partner to increase sales of Prochieve 4%, given their ability to effectively reach over 14,000 physicians who are likely to prescribe progesterone but are not on our infertility target list of reproductive endocrinologists and OB/GYNs who treat infertility.”